Defeat leaves Italy three points behind their illustrious rivals with three games remaining - the Azzurri facing Israel, Macedonia and Albania.

And Buffon insists they could still secure a place in Russia next year, even if they might have to go through the play-offs.

"We believe and hope to go to the World Cup," Buffon told TMW Radio .

"There is a year ahead of us, there will be training camps to refine certain mechanisms. There are values in this squad that don't always emerge."

Buffon's Juventus team-mate Andrea Barzagli echoed the goalkeeper's confident outlook, and urged everyone involved with the national team to not lose faith.

"It was difficult, we knew that, and the quality of all their [Spain] individual players emerged," he said.

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"We needed the perfect performance to limit us. It is a heavy result, but I don't think we suffered that much.

"We mustn't lose faith in our journey, as we still need to do what's necessary to reach the World Cup. We should have done better, however we continue to believe in what we're doing and focus on reaching the play-offs.

"That second place isn't mathematically locked down yet, so the next game with Israel is going to be fundamental. We must prepare and win."